Wall Street Breakfast October 18: Microsoft Laid Off Around 1,000 Employees Across Various Division Citing Global Slowdown

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 18 October 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Microsoft laid off around 1,000 employees across various division citing global slowdown. Amazon Web Services to invest $5B in Thailand cloud infrastructure. Seeking Alpha Author Julian Lin Weighs-In On What To Expect From Adobe Financial Analyst Meeting. Catch today’s WSB article https://seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.2	Good morning. Today is Tuesday, October 18th, and I'm your host Julie Morgan.
0:15.8	Our top stories, Microsoft, Amazon, Cano and CVS, Adobe and Figma, Netflix,
0:22.4	Splunk, Boeing, and Exxon Mobile.
0:26.0	Rebounding from a dismal showing over the previous couple of weeks stocks surged on Monday,
0:31.0	led by consumer and technology stocks.
0:33.8	The NASDAQ ended up 3.4%.
0:36.3	The S&P 500 closed up 2.7%,
0:39.5	and the Dow Jones finished up 1.9%.
0:42.6	The broad-based rally saw all 11 S&P sectors record gains.
0:46.5	Consumer discretionary led the advance jumping 4.2%.
0:50.7	There were also greater than 3% gains in communication services, Infotech, and real estate.
0:56.7	Looking at the bond market, trading was mixed. The 10-year Treasury yield rose nearly two bases points to 4.02% while the two-year yield
1:05.4	dropped five basis points to 4.46%. In the earnings spotlight today,
1:11.5	Johnson and Johnson, Lockheed Martin, United Airlines,
1:16.2	Goldman Sachs, and Netflix.
1:18.8	In our day watch is a standout decliner.
1:21.4	Keno Health plummeted on reports that CVS will not pursue an acquisition of the primary care provider.
1:27.4	shares slumped more than 42 percent, giving back gains posted in August and September.
1:33.2	DIL reporter reported that CVS has dropped a potential takeover of Kano, citing people familiar
1:38.9	with the situation.
	...

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